Corcept Therapeutics Incorporated (CORT) Director Sells $287,575.00 in Stock
Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David L. Mahoney sold 23,006 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $12.50, for a total transaction of $287,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Corcept Therapeutics Incorporated (NASDAQ CORT) traded up 0.54% during mid-day trading on Thursday, hitting $12.95. 953,569 shares of the stock traded hands. The stock’s 50 day moving average is $11.86 and its 200-day moving average is $10.06. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 118.81 and a beta of 2.05. Corcept Therapeutics Incorporated has a 12 month low of $5.24 and a 12 month high of $13.25.
Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, May 1st. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $27.60 million for the quarter, compared to the consensus estimate of $25.53 million. Corcept Therapeutics had a net margin of 13.51% and a return on equity of 33.97%. The business’s revenue was up 71.9% compared to the same quarter last year. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post $0.26 EPS for the current year.
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A number of research firms have weighed in on CORT. BidaskClub lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Wednesday. TheStreet raised shares of Corcept Therapeutics from a “c+” rating to a “b” rating in a research note on Monday, May 22nd. Piper Jaffray Companies set a $18.00 target price on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Ladenburg Thalmann Financial Services set a $20.00 target price on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.20.
Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $153,000. Prudential Financial Inc. purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $198,000. Trexquant Investment LP purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $202,000. Sheets Smith Wealth Management purchased a new position in shares of Corcept Therapeutics during the second quarter valued at about $283,000. Finally, Turner Investments LLC purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $349,000. 53.52% of the stock is currently owned by institutional investors and hedge funds.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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